Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

Franklin, MI

As of July 2025, Franklin's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Franklin's average rent is 13.0% ($178) higher than the Michigan average of $1,365 and 13.1% ($232) lower than the U.S. average of $1,775.

Average Rent

$1,543

Monthly ChangeMonth Over Month Change

0.7% ($10)

Yearly ChangeYear Over Year Change

No change

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,070	1.3% ($14)	No change
2 Beds	$1,416	0.6% ($8)	No change
3 Beds	$1,723	2.9% ($52)	No change

Nearby Cities	Average Rent	Avg. Rent vs. FranklinAverage Rent vs. Franklin	Avg. Days on MarketAverage Days on Market
Southfield	$1,393	9.7% ($150)	35 days
Birmingham	$1,789	15.9% ($246)	32 days
Bloomfield Hills	$1,451	6% ($92)	33 days
Berkley	$1,335	13.5% ($208)	34 days
Oak Park	$1,354	12.2% ($189)	36 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Franklin Rental Market FAQs

Explore rental prices, market trends, and availability in Franklin, MI.

What is the average rent in Franklin, MI?

The average rent in Franklin, MI is $1,543 per month.

What is the rental price range for houses in Franklin, MI?

Houses in Franklin typically rent for between $749 and $2,240 per month, with an average of $1,543 per month.

What is the average rent for different bedroom sizes in Franklin, MI?

In Franklin, the average rent for a 1-bedroom house is $1,070 per month, for a 2-bedroom house, $1,416 per month, and a 3-bedroom house is $1,723 per month.

How do rent prices in Franklin, MI compare with the national average?

The average rent in Franklin is 13.1% ($232) lower than the national average of $1,775 per month.

How competitive is the rental market in Franklin, MI?

The rental market in Franklin, MI, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Franklin, MI?

In Franklin, MI, the average rental stays on the market for approximately 34 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Franklin, MI?

There are currently 4 rental properties available in Franklin, MI.

Can I afford to rent a house in Franklin, MI?

Based on the current averages, a household would need an annual income of $56,640 to comfortably afford a 2-bedroom house in Franklin.